The Polit Bureau of the Communist Party of India (Marxist) has issued the following statement on October 6, 2014.

THE Polit Bureau of the CPI(M) registers its protest over the refusal of the government and the Oil Marketing Companies (OMCs) to reduce the price of diesel, despite the fall in crude oil prices in the international market.

Price of Brent crude, the global oil price benchmark has fallen below $92 a barrel. It is reported that the OMCs are earning Rs 1.90 on every litre of diesel as `over recovery’.

While the government had directed OMCs to increase 50 paise per litre every month from January 2013, no reduction has been done in diesel price despite the fall in crude oil prices. Through this inaction, the government is burdening the people in general and especially the farmers, small scale industries and the goods transport sector.

The CPI(M) demands that the price of diesel be immediately reduced considering the big fall in crude oil prices.